Fairmoney Investment Review: Is 26% ROI a Fair Deal?

Fairmoney started as a Fintech app in Nigeria about 5 years ago, but has now become a full-fledged financial services company in Nigeria.

From operating as a loans company, they have now acquired a microfinance license from the CBN and are now insured by the NDIC.

This means that Fairmoney would be expanding its financial service offerings in order to capture more market share as a bank in Nigeria.

That caused a change in business model for Fairmoney. From using their funds to offer loans to now pooling funds from investors towards their loan offerings.

Late last year, they launched their first savings product, Fairsave, which was designed for short-term savers looking to make returns on their savings.

The Fairsave product was offering savers up to 10% ROI for their savings, which remained liquid and could be withdrawn at any time.

Now, Fairmoney has launched a second product, Fairlock, to complement their Fairsave product.

Fairlock is designed for the long-term investor who are looking to lock in their funds towards long-term use.

With Fairlock, investors could earn up to 26% ROI on their investment. The longer the investment tenure, the higher the ROI.

To earn 26% ROI on your funds, all you have to do is let your money sit in your Fairlock account for a minimum of 30 days.

But there is also a big change with the Fairlock product. Invested funds would not be as liquid as that of Fairsave where investors can withdraw their funds at any time.

With Fairlock, funds are locked in until the investor tenure elapses.

Is 26% a Fair Deal?

So, is 26% a fair deal with the Fairlock feature of Fairmoney?

In my opinion, it’s definitely a fair deal. Considering that Fairmoney is not a fly-by-night company, and that investors funds are insured by the NDIC.

26% ROI is definitely one of the highest ROIs you can get investing your funds with a Fintech in Nigeria.

Other products may offer a higher ROI but only a few can boast of the same legitimacy as that of Fairmoney.

Personally, I use Branch as a savings-investment product, which is quite similar to Fairmoney. But I can bet that there are only a handful of Fintech products in Nigeria that offer the ROI and legitimacy offered by these two.

I’ll definitely be putting more money into this product to see my money grow. Would you be doing the same?


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